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How To Ask Your Trustee For Money or Trust Funds

What We Do • Apr 11, 2021

How do you ask your trustee for money? Let’s say that mom or dad or grandma set up a trust for you with $10 Million. You want money, right? So, how do you ask your trustee for money or trust funds? We have previously written about a TRUSTEE’S DISCRETION, when your trustee refuses to give you money. We have also commented on how to appeal a trustee’s decision to NOT give you money. Let’s focus on how to ask for money from your trustee.

How do you ask your trustee for money?

5 Tips On How To Ask Your Trustee for Money

First, understand the playing field. Read your trust document ! It will tell you the standards or the rules of the game. Like, how money may be distributed to you. Or how often. And for what purposes. If the trust says that you can request money for a residence, consider this. If you don’t have a job, I doubt your trustee will buy you a beach house in Nantucket. Or a ski chalet in Aspen. But, hey, maybe they will. 2nd, put it in writing. Emails are fine. 3rd, cite or refer to the part of the trust that makes you believe you can get money. Your trustee should be reading the trust, so you better know it, too. 4th, give an explanation. Help your trustee understand why you want or need the money. If you want a new car, why do you want to purchase a Tesla versus renting a less expensive vehicle? 5th and finally provide back up. If you want regular ongoing living expenses, put together a budget. Cable, water bill, food, groceries, medications, electric bill, groundskeeper/lawn, pool maintenance, car payment, residence payment (mortgage or lease payment), health insurance, life insurance, auto insurance, cell phone, just to name a few. If you want money for a new house, provide a listing agreement or appraisal. Need money for college, where’s the bill ? Produce receipts or invoices and proof of charges and fees. Your trustee may want to give you the money but is willing to pay the service or product provider directly. That’s OK. If you want to read more about your rights or trust law in Florida, read THE FLORIDA TRUST CODE.